Petrochemical Headlines
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Oman Parliament Votes to Raise Taxes in Three Industries
(Thursday, May 26, 2016) Oman's parliament voted on Thursday to sharply raise taxes on the petrochemical industry, non-oil natural resources and liquefied natural gas companies in a drive to address a budget deficit.

BASF Feels No Pressure as Rivals Plan $170 Billion of Deals
(Wednesday, May 25, 2016) BASF SE executive Sanjeev Gandhi signaled the world's biggest chemicals company may sit out a merger frenzy gripping the industry even as rivals pursue more than $170 billion worth of deals.

U.S. Congress Moves to Revamp Toxic Chemical Law
(Wednesday, May 25, 2016) The House's 403-12 vote to pass the measure updating the regulation of toxic chemicals aided the bill's chances, with the Senate also expected to strongly embrace the bill, according to leadership aides.

Record U.S. LPG Exports to Asia Hit Naphtha When It's Already Down
(Tuesday, May 24, 2016) Asian petrochemical makers will use around twice as much LPG in June as in the previous two months, undercutting already weak margins being earned on traditional chemical feedstock naphtha, trade sources said.

Saudi Aramco and SABIC Say No Plans to Merge Petrochems
(Monday, May 23, 2016) National oil giant Saudi Aramco and Saudi Basic Industries Corp denied on Saturday they had any plans to merge their petrochemicals businesses after media reports on the possibility.

U.S. Top Court Rejects Dow Bid to Restore $30.5 Million in Patent Damages
(Monday, May 23, 2016) The U.S. Supreme Court on Monday rejected a Dow Chemical Co bid to salvage $30.5 million in patent infringement damages in a lengthy legal fight with Nova Chemicals Corp over two patents relating to plastic film.

Tanzania to Start Building $3 Bln Fertiliser Plant This Year
(Friday, May 20, 2016) The factory, which Tanzania is building along with a consortium from Germany, Denmark and Pakistan, will use natural gas to produce fertilizer, the president's office said.

S. Korea Lotte Chem to Restore Runs at Yeosu Naphtha Unit in 2 Wks
(Thursday, May 19, 2016) South Korea's Lotte Chemical is expected to restore normal runs at its naphtha cracker in Yeosu in about two weeks after technical problems led to cuts in operating rates at the 1 million tonnes per year (tpy) unit, trade sources said.

Europe Needs Independent Carbon Market Regulator - Total's CEO
(Wednesday, May 18, 2016) "To have a market, you need a regulator and a central bank," Total CEO Patrick Pouyanne said. "Today it is an unbelievable shouting match where everyone is yelling about want they want."

Saudi's Sipchem Says Restarts Units After Shutdown
(Tuesday, May 17, 2016) Saudi International Petrochemical Co (Sipchem) has restarted three plants after they were shut for maintenance earlier this month, the company said on Tuesday.

France Leads by Example with Carbon Price Floor
(Tuesday, May 17, 2016) France will set a carbon price floor of about 30 euros ($33.95) a tonne in its 2017 finance bill as the government seeks to kickstart broader European action to cut emissions and drive forward last year's landmark international climate accord.

AFPM: EPA Proposal Would Lead to 'Excessive Paperwork Exercises'
(Monday, May 16, 2016) The American Fuel & Petrochemical Manufacturers (AFPM) filed comments on the U.S. Environmental Protection Agency's proposed amendments to the Risk Management Program (RMP) of the Clean Air Act asking it to withdraw the proposal.

Mitsubishi Plastics Selects Jacobs for South Carolina Plant Expansion
(Friday, May 13, 2016) Jacobs is providing engineering services for the $100 million investment, which includes installation of a polyester film production line.

Saudi Sipchem, Sahara Said to Weigh Reviving Merger Plan
(Thursday, May 12, 2016) If the two companies proceed with a deal it would be the largest merger or acquisition in Saudi Arabia in at least the last 10 years, according to data compiled by Bloomberg.

China Enviro. Protests Force Halt to Studies for Industrial Park Project
(Thursday, May 12, 2016) Authorities in an eastern Chinese city have vowed to halt studies for a petrochemical industrial park project planned jointly with a Singapore company, following a wave of protests over possible health and environment risks.

Honeywell to Spin Off Its $1.3 Bln Resins and Chemicals Business
(Thursday, May 12, 2016) Honeywell International Inc, a U.S. manufacturer of aerospace parts and climate control systems, said it would spin off its $1.3 billion resins and chemicals operations into a standalone company, as it focuses on higher-growth businesses.

Arson Blamed for Deadly Texas Fertilizer Plant Blast in 2013
(Wednesday, May 11, 2016) A fire at the West Fertilizer Co. plant in West, Texas, in April 2013 was intentionally set, the U.S. Bureau of Alcohol, Tobacco, Firearms & Explosives said on Wednesday.

Saudi Aramco Says to Sign Chemicals Project MOU with SABIC
(Tuesday, May 10, 2016) SABIC has previously said the proposed project could cost as much as $30 billion, processing petrochemicals directly from crude oil instead of first refining the oil into products such as naphtha.

Cepsa Expects Indonesian Chemical JV to Start Up This Year -Exec
(Monday, May 09, 2016) The chemicals unit of Spanish energy firm Cepsa expects to start up its Indonesian joint venture by the end of this year, with exports due to commence in 2017, a senior company official said on Monday.

Japan's Mitsubishi Chem Shuts Cracker as Planned
(Monday, May 09, 2016) Japan's Mitsubishi Chemical Corp said it shut a 539,000 tonnes-per-year naphtha cracker at its Kashima plant on Monday as scheduled for planned maintenance.

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